The Department for the Economy (the Department) has accepted a disqualification undertaking from the Director of a golf equipment and accessories retail business in Derry.
The undertaking was received for seven years from Dermot Hegarty (37) of Ardan Road, Derry, in respect of his conduct as a director of Golfstoreeurope Ltd (“the Company”).
The Company operated as a retailer of golf equipment and accessories from Unit 2 Springtown Business Park, Derry, and went into liquidation on 27 February 2015 with estimated total assets available for preferential creditors of £18,000, estimated total assets available for unsecured creditors of £5,819, liabilities to preferential creditors of £3,907, liabilities to secured creditors of £59,814, liabilities to unsecured creditors of £940,532 and an estimated deficiency as regards creditors of £986,253.
After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £986,263.
The Department accepted the disqualification undertaking from Dermot Hegarty on 19 October 2017 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed.
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